For the week ending September 10, 2016, the American Iron & Steel Institute (AISI) estimated the U.S. steel industry produced 1,626,000 net tons of raw steel, a 1.8 percent decrease over the previous week and a 3.6 percent decrease over the same week one year ago. The estimated capacity utilization rate is 69.5 percent, down from 70.8 percent last week and down from 70.5 percent this time last year.
The last time raw steel production was this low was the week ending January 9, 2016 when 1,594,000 tons were produced at a capacity utilization rate of 66.7 percent. The last time the capacity utilization rate was this low was the week ending January 16, 2016 when 1,652,000 tons were produced at a capacity utilization rate of 69.1 percent.
Note that total capability for the Q3 2016 is approximately 30.7 million tons versus 31.4 million tons for the same period last year and 30.4 million tons for Q2 2016
Estimated total raw steel produced for 2016 YTD is reported to be 62,545,000 tons, down 1.3 percent from the 63,375,000 tons produced during the same period in 2015. The average capacity utilization rate for 2016 YTD is estimated to be 72.3 percent, up from 72.1 percent for 2015 YTD.
Week-over-week changes per district are as follows: Northeast at 202,000 tons, down 3,000 tons. Great Lakes at 653,000 tons, up 5,000 tons. Midwest at 158,000 tons, down 3,000 tons. South at 544,000 tons, down 26,000 tons. West at 69,000 tons, down 3,000 tons. Total production was 1,626,000 tons, down 30,000 tons.
About Weekly Raw Steel Production Data
The weekly raw steel production tonnage provided by the AISI is estimated. The figures are compiled from weekly production tonnage provided by 50 percent of the domestic producers combined with monthly production data for the remainder. Therefore, this report should be used primarily to assess production trends. The monthly AISI production report provides a more detailed summary of steel production based on data supplied by companies representing over 75 percent of U.S. production capacity.
SMU Note: Below is a graphic showing the weekly raw steel production history. To use the graphs interactive capabilities, you must view it on our website. You can do this by clicking here. If you need help navigating the website or need to know your login information, contact us at info@SteelMarketUpdate.com or by calling 800-432-3475.
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